Online Savings Account Review

by andy h on March 4, 2007 · 2 comments

Getting Green has a very helpful post that reviews 14 high yield savings accounts. I’m adding my own observations on the ones that I have opened or tried to open.

Emigrant Direct-I’ve had an account with them for a few months. I’m pleased with their competitive rate and low minimum. Some complain about their customer service but I’ve never needed to use their customer service so I can’t comment. If you would like a $10 bonus for opening an Emigrant Direct visit MyMoneyblog.com.

E-Trade-They have a higher interest rate but I wasn’t pleased with their customer service. I had to make several phone calls to get my account set up and to get it closed.

Grand Yield Direct-Tried to open this account online but was told they couldn’t verify my identity. Tried to call their customer service line twice but after being on hold about 15 minutes each time and never reaching anyone I gave up on them.

HSBC Direct-Tried to open an account with them as well. My application was in processing with them forever. Every time I called to inquire about it I was told it should go through in a couple days. I quit calling them and they never took any money out of my bank account so I guess my account is still in processing.

ING DIRECT – High Yield Savings with 4.50% annual percentage yield!
(aff link)This is my favorite. Their customer service is great and the $300 in bonuses I’ve received from them is good too. I keep most of my money in Emigrant Direct now but if ING ever gets competitive on their rate again I’ll switch my money back. If you would like a referral bonus visit my ING DIRECT referral page or send me an email.

Virtual Bank-I’ve had an account with them which I keep open just for referral bonus purposes. I didn’t realize they had raised their interest rate or I might have put my money there rather than Emigrant. If you would like a referral for a $20 bonus from them send me an email. {andy h 21 bank bonuses dot com} Also listed on my about page.

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